🥛 The craziest day in crypto...

PLUS: 1 BIG thing to watch - ETH/BTC. Here's why... 👀                                                                                                                                                                                                                                                                                                                                                                                                                 January 10, 2024 | [Read Online]( Today’s edition is brought to you by [PayPal]( - who is charting a new course in the digital landscape with the launch of PYUSD, a stablecoin designed for payments. [Explore the new PayPal USD stablecoin!]( GM. This is Milk Road, your morning crypto chuckle. Because a day without laughter is a day wasted. Here’s what we got for you today: - WOW! WTF happened yesterday 🧐 - 1 big thing to watch: ETH/BTC 📊 - Would you rather have… $500K now or $5M in 10 years? 👀 - Say hello to crypto’s new blockchain 🍪 [Prices as of 8:00 AM ET. Click here for our Fear & Greed Index]( WOW! WTF HAPPENED YESTERDAY 🧐 Yesterday had us saying one thing: “WOW.” Seriously. I felt like Owen Wilson for the day… (Side note: Here’s [a compilation]( of Owen Wilson saying “wow” 100+ times throughout his movies. Yes, someone counted. And yes, it has 8M+ views). Anyway, back to yesterday’s sh*tshow. Here’s the play-by-play: - 4:11 PM - The U.S. Securities and Exchange (SEC) tweeted that it approved [Bitcoin ETFs](. - 4:26 PM - Gary Gensler (head of the SEC) tweeted out that the SEC’s account was compromised and the SEC had NOT approved any ETFs. - 4:38 PM - The SEC regained access to Twitter again and confirmed there were NO ETF approvals. - 4:39 PM - Streets started flooding with the tears of 1,000 crying crypto investors. It was a wild 30 minutes and [BTC]( jumped from [$46K → $48K → $45K](. So, how’d this happen? According to [Twitter’s investigation](, “an unidentified individual obtained control over a phone number associated with the SEC account through a third party.” To make things worse, the account did not have two-factor authentication (2FA) enabled. That’s right. One of the most powerful regulators in the world has a security system that looks like this… [Source: Us!]( … you can’t make this sh*t up. Here’s how Crypto Twitter reacted to everything that happened: [Source: @Sicarious_]( [Source: @BITVOLT]( [Source: @greg16676935420]( [Source: @andykreed]( [Source: @mtcbtc]( [Source: @dougboneparth]( So, what’s next for the [Bitcoin ETFs](? There’s good news and bad news… Bad news: There’s still no official ETF approval. Good news: Many experts (like [Eric Balchunas]() still believe the Bitcoin ETFs will get approved later today. It’s also important to note that before all this chaos happened yesterday… - Valkyrie’s co-founder [said]( he was confident their ETF would get approved today, and trading would start on Thursday. - VanEck’s CEO [told]( CNBC in an interview that he believed his firm’s ETF would start trading tomorrow. Don’t hold your breath… but all signs still point to Bitcoin ETFs getting greenlit. [THE NEXT STEP IN MODERNIZING PAYMENTS]( Volatility can make crypto payments unpredictable. While stablecoins help address this concern, not all issuers are the same. Well, in the world of payments, there are few names more well-known than [PayPal](. [PayPal]( partnered with Paxos to become a pioneer in blockchain-based payments, launching the PYUSD stablecoin. Here’s what you need to know: - PYUSD leverages blockchain to bring users faster and more accessible payments than traditional methods. - PayPal educated the public on their Web3 roadmap and the future of crypto payments through an [exciting Open Letter](. - Available today, you can send crypto to your US PayPal account, convert it to PYUSD, and use PYUSD to checkout at millions of online stores. [Explore the new PayPal USD stablecoin!]( 1 BIG THING TO WATCH: ETH/BTC 📊 Every investor should be tracking one thing… [trading pairs](. TLDR - it’s a good way to compare how assets perform relative to each other. One of the most popular trading pairs is ETH/BTC. And it’s been getting a lot of attention recently... Why? Earlier this week, It hit its lowest point since April 2021. In other words - if crypto were a prison yard, ETH would be Bitcoin’s B*tch. Well, check it out. Something interesting happened yesterday… after the fake ETF approvable went viral, ETH/BTC started pumping. [Source: TradingView]( Why this matters: Although the tweet was fake, the market’s initial reaction to it probably wasn’t. And some think “the market showed its hand” yesterday: - BTC pumped right after the news, but then quickly dumped (even before the SEC confirmed the tweet was fake). - Investors started rotating money from [BTC]( → [ETH](. With Ethereum’s upcoming network upgrades and a potential ETF coming later this year, everyone should keep a close eye on ETH/BTC. WOULD YOU RATHER HAVE…$500K NOW OR $5M IN 10 YEARS 👀 We saw a viral Twitter poll earlier this week and got curious about what you would pick… Would you rather have... [$500K today]( [$5M in 10 years]( Click on your answer above and tell us why! We’ll share the results and best answers tomorrow. BITE-SIZED COOKIES FOR THE ROAD 🍪 [Fox and Polygon are teaming up to create a new blockchain called Verify](. The goal: authenticate digital media content ranging from articles to images. [MicroStrategy nears $3B in BTC profit](. The company’s total holdings were purchased for $5.9B at an average price of $31,409. Not too shabby for a software company. [The 40-day correlation between Bitcoin and NASDAQ has hit zero](. BTC and NDX are breaking up like couples that just met for the first time on the show Love Is Blind. [Gary Gensler’s “compromised” Bitcoin ETF tweet was inscribed onto the Bitcoin blockchain](. It has been immortalized, forever. [BitPay now allows customers to pay for goods and bills with BNB, Chainlink, and other tokens](. BitPay customers can use crypto to buy stuff at places like Gucci, Ralph Lauren, and AMC Theatres and make car/mortgage payments. MILKY MEMES 🤣 [Source: @Satoshi_Talks]( RATE TODAY’S EDITION What'd you think of today's edition? [🥛🥛🥛🥛🥛 F**king great]( [🥛🥛🥛 Meh, do better]( [🥛 You didn't bring the heat]( Share Milk Road You currently have 0 referrals, only 1 away from receiving The Next 10x Opportunity in Crypto for 2023. [The Next 10x Opportunity in Crypto for 2023]( [Click to Share]( Or copy and paste this link to others: ROADER REVIEW OF THE DAY VITALIK PIC OF THE DAY [tw profile: Milk Road Images] Milk Road Images @MilkRoadImages [tw] When a fake SEC tweet reveals the market's hand and shows it's ETHs time to shine Jan 10, 2024 0 Likes 0 Retweets 0 Replies WANT TO SPONSOR THIS NEWSLETTER? Over 250,000 subscribers are throwing a party, and your brand is invited! Tap into our network of savvy (and good-looking) crypto & Web3 enthusiasts who are eager to learn and invest. Your Brand + Our Crypto Clan = Magic Waiting To Happen. [RSVP to the party!]( DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. [tw]( [ig]( [yt]( [tk]( [in]( Update your email preferences or unsubscribe [here]( © 2024 Milk Road 603 Munger Avenue Suite 100 #1006 Dallas, Texas 75202, United States